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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Re: Venezuela: ConocoPhillips Closer to Seizing CITGO Shares over Massive Award

They don't have to come up with 23 billion to make a deal right now.

Crystallex is the only company to have completed all stages and needs to be paid in full. If not Crystallex continues with the sale of Citgo. Crystallex is first in line to be paid from the sale proceeds and will be fully paid. Those companies down the list for payment that have not completed all steps (which none have other than us) will be paid until the money runs out should they be able to complete all steps.

Given that scenario there is huge incentive for everyone including VZ to settle with the other creditors. This took place already with Curacao.

https://ca.marketscreener.com/news/latest/Venezuela-s-PDVSA-to-settle-debt-to-Curacao-refinery-seeks-to-supply-oil-45602202/

While logic is an oxymoron when taking about VZ, at some point soon the companies that haven't reached all steps and VZ who doesn't want to lose Citgo have to sit down and reach an agreement like VZ did with Curacao.

So IMO, Crystallex has leverage in their dealings with VZ to settle and shareholders have leverage with Kry/Tenor to get a fair amount to agree with any settlement.

JJ

 

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